Although it’s exciting to see all the sales coming in, the inevitable time comes every year when you need to count your money. But instead of hiring an expensive accountant to file those documents, check out the best tax software for Amazon sellers so you can do it yourself. You will also be able to save money in the process, which you can invest in other devices sold by Amazon.
If you need a super fast solution, Avalara is a tax filing software that allows you to type in numbers and numbers and file your taxes instantly. But if you want to make sure everything is correct, they also have a manual option. You fill in the necessary fields, and submit your document to their experts for a final check before submission. It is a good choice if you are not familiar with the tax laws and regulations of different countries.
In short, Avalara allows you to pay taxes for Goods and Services Tax, Communication Tax, Value Added Tax (VAT), Excise Tax, and more. Not only is it compatible with any Amazon store, but you can also use it for other platforms, such as Walmart, eBay, and Etsy.
The price is also reasonable. Plans start at $50/year for small businesses, but there are great deals everywhere. When you sign up for Avalara AvaTax, AvaTax and Returns, or Avalara CertCapture, you get 15 months of service for the price of 12 months. And if you must use AvaTax Cross-Border or Avalara Consumer Use, they will reduce your annual fee by 15% for the first subscription period.
If you are looking for tax software for Amazon sales for even five minutes, you will find that TaxJar Pop up very frequently. And there is a good reason for it. This makes registering your Amazon account as easy as possible. Just sync your Amazon account with the software and you’re halfway there.
After you enter all the necessary information, TaxJar takes over and does the rest. Need to pay taxes in different states? They will do it for you within the state deadline so you are on time. Not sure which product tax code is correct? They have a great product design feature that shows the code so you don’t have to dig around. And if you don’t sell on Amazon, eBay, Shopify, Stripe, PayPal, and your platform isn’t available, TaxJar allows you to export sales data to CSV files so you can still do your taxes.
This should reassure you that big companies like Coca-Cola, CBS, Microsoft, Eventbrite and others are using TaxJar. But just because the heavy hitters are involved doesn’t mean you have to pay through the nose. Their starter plan is only $19/month (based on monthly billing), while the professional plan is $99/month (based on monthly billing) for many other plans – and both offer a 30-day trial period with installation for free.
For sellers based in Europe (those in the 27 EU countries), determining VAT based on products in some countries can be problematic. This is where SimplyVAT comes in handy, calculating the amount of VAT you owe both on individual invoices and as a whole. But the best thing is that they use a free VAT return fee (returning your product to a country where VAT is collected) to see if you have to pay VAT.
If you are based in Canada, New Zealand, Australia or South Africa, SimplyVAT also has something for you, as you can sell in countries where VAT is active. No matter where you live, they will bill you monthly, quarterly, or annually (depending on what’s needed) so you don’t have to worry about the details.
Plan prices vary based on your business size, product inventory and other factors. Email or call them for exact details. But if you want them to take care of your VAT registration at the same time, it’s only $470.
4. Tax of Sovos
One of the main reasons we saw Taxify from Sovos was its great flexibility. If you’re an Amazon seller, they may suit your needs, but they also offer many general-purpose options to process and report almost any type of tax. And if your business has been affected by Covid-19, you can get free filing assistance.
Some of their main features include the sale and use of tax software for any process of reporting and any jurisdiction; electronic invoice recognition software with acceptance in more than 60 countries; VAT and tax reporting software so you always comply with the law; and tax reporting software that makes your life easier and cheaper.
If you end up using Taxify by Sovos, you can count The Home Depot, Groupon, CVS Health, Philips, and other big names among your colleagues. Pricing is $47/month for the Starter plan, $97/month for the Standard plan, or $247/month for the Premium plan, and starts with a 30-day free trial.
5. A2X Account
Last, but not least, A2X Accounting is one of the best tax software options for Amazon sellers. While we don’t begrudge you having to manually file your taxes, the plethora of features offered more than make up for that.
Let’s start with their e-commerce specific tax options. If you sell on Amazon or Shopify, there are custom tax procedures for each platform to make sure you’re documenting everything correctly. For those who are smart and well versed in the nuances of taxation, there is an A2X expert to meet your broad needs. And when it’s time to file your taxes, you can integrate A2X with another tax filing tool (like Xero or Quickbooks) to automate everything.
The prices are reasonable and there are many offers going. For a limited time, you can save 50% on Xero and A2X for Shopify. Otherwise, the plan is $19/month for Mini, $39/month for Basic, $69/month for Professional, or $99/month for Advanced. And, of course, you can test the plan / option that suits you for a free trial.
With all the money you’ll save doing and filing your taxes, put it on RepricerExpress. By doing this, you will be able to create the kind of bidding rules that can get you higher sales and more money, and increase your chances of winning the Buy Box (which can even mean sales). To see what kind of dollar sign you deserve, sign up now and we’ll start with a 15-day free trial.